Kazaa to Pay $100 Million to Record Labels
July 27, 2006 4:02 PM
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Kazaa goes legal
In what the recording industry calls a win situation, four record labels have settled a lawsuit with popular P2P sharing network Kazaa. Under the settlement,
Kazaa will pay more than $100 million to four to EMI, Sony BMG, Universal Music and Warner Music
. Kazaa will also commit to going fully legitimate said the report.
According to the International Federation of Phonographic Industry, Kazaa has contributed to a significant amount of "damage" in the music industry. IFPI chairman and CEO John Kennedy said "these are very substantial damages being paid -- in excess of $100 million -- and Kazaa will go legal immediately. They've had time to prepare for this." Representatives for the MPAA also said that Kazaa will be implementing technology that will prevent users from transferring copyrighted material over the network.
The original developers of Kazaa, Niklas Zennstrom and Janus Friis sold Kazaa to Sharman Networks in 2002. Since then, Sharman had been dealing with the MPAA and the RIAA over the legality of Kazaa users transferring copyrighted material. Neither Zennstrom nor Friis was available for comment.
Zennstrom went on to create Skype after selling Kazaa to Sharman. Zennstrom ended up selling
Skype to eBay for roughly $2.6 billion in both cash and stock
This article is over a month old, voting and posting comments is disabled
7/27/2006 6:30:00 PM
There are still a few good bands around. Dream Theater's been releasing solid hits all the way through, Iron Maiden and Judas Priest hit a bit of a bad patch in the late 90's but Brave New World was good and so was Living After Midnight. It's not that bleak - scratch that, not a single one of those bands lacks a member more than 40 years old.
"Let's face it, we're not changing the world. We're building a product that helps people buy more crap - and watch porn." -- Seagate CEO Bill Watkins
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